• Advertise with us
  • Pricing
  • Submit News
Instagram Twitter Facebook Telegram Youtube Linkedin
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
  • News
    • Price Analysis

    Main News

    • Crypto News
    • Bitcoin and BTC
    • Altcoin News
    • Security & Hacks
    • ICO & Token Sales
    • Interviews & Profiles

    Information

    • Press Release
    • Research Report
    • Regulations, Law & Policy
    • Community/Guest Post
    • Events & Conferences
    • Tutorials & Guides

    Market

    • Technical Analysis
    • Price Analysis
    • Cryptocurrency Price Prediction
    • DeFi (Decentralized Finance)
    • Mining & Staking

    Other Categories

    • NFTs & Digital Art
    • Opinion & Editorials
    • Tech Innovations
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
More
  • News
    • Price Analysis
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
Reading: Ripple’s XRP Aims For 75% Rally, Insights from On-Chain Data
Share
Sign In
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
EdaFace Newsfeed > Latest News > Crypto News > Ripple’s XRP Aims For 75% Rally, Insights from On-Chain Data
Crypto News

Ripple’s XRP Aims For 75% Rally, Insights from On-Chain Data

vitalclick
Last updated: November 13, 2024 3:21 am
4 months ago
Share
SHARE

Contents
XRP Technical Analysis and Upcoming Levels Bullish On-Chain Metrics Current Price Momentum 

Ripple’s native token, XRP is making waves in the cryptocurrency realm after Donald Trump won the U.S. presidential election. With this notable rally and bullish outlook, XRP has now reached a level where there is a high possibility it could skyrocket in the coming days.

XRP Technical Analysis and Upcoming Levels 

According to CoinPedia’s technical analysis, XRP is currently facing strong resistance near the $0.75 level. Historically, this level acted as a strong selling pressure, which resulted in a price decline. However, the asset price reached this level after March 2024, and the sentiment has shifted, with investors’ and traders’ interest now focused on the next level.

Source: Trading View

Based on the recent price action and historical momentum, if XRP breaches the resistance level and closes a daily candle above the $0.76 level, there is a strong possibility it could soar by 75% to reach the $1.36 level in the coming days. 

However, this target may not be easy to achieve, as there is a resistance level near the $0.95 level, which could create a hurdle and potentially stop XRP from rallying. 

Currently, XRP is trading above the 200 Exponential Moving Average (EMA) on both daily and weekly time frames. Meanwhile, its Relative Strength Index (RSI) suggests potential bullish momentum in the coming days, as it is in oversold territory.

Bullish On-Chain Metrics 

Besides the bullish technical analysis, on-chain metrics further support XRP’s positive outlook. According to the on-chain analytics firm Coinglass, the asset’s open interest (OI) has skyrocketed by 22% in the past 24 hours and 7.25% in the past four hours.

Source: Coinglass

This rising OI suggests that traders are strongly participating in XRP tokens as it approach the breakout level, which is a bullish sign.

At press time, major liquidation levels are at $0.657 on the lower side and $0.736 on the upper side, with traders over-leveraged at these levels, according to Coinglass data. The data suggests that $47.56 million and $31.72 million worth of open positions are currently at the liquidation levels, which will be liquidated if the XRP price moves in either direction.

Current Price Momentum 

At press time, XRP is trading near $0.68 and has experienced a price surge of 13.5% in the past 24 hours. During the same period, its trading volume jumped by 170%, suggesting heightened participation from traders and investors amid a potential breakout.

You Might Also Like

Semler Scientific Plans $75M Fundraising to Boost Bitcoin Holdings

Legal Expert Says SEC’s Latest Appeal Has Nothing To Do With $125 Million Penalty

$68K Target in Sight After Extended Pause, Here’s What’s Next

Famous economist Peter Schiff’s strategic Bitcoin reserve and crypto statements

Bybit Recovers $1.46B in Ethereum After Historic Hack – But Does It Still Owe Money?

TAGGED:CryptoNews
Share This Article
Facebook Twitter Email Print
Previous Article Experts’ Predictions for SEC and Gensler, This Event Affects XRP Coin Price
Next Article Will ADA Price Challenge $1 This Month?
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Crypto Live Widget

Follow for Live Updates
Subscribe to our newslettern

Get Newest Articles Instantly!

- Advertisement -
Ad imageAd image
Popular News
Cryptocurrency Regulation in Russia : Blockchain Development
Current Cryptocurrency Regulations in India
Explore Cryptocurrency Regulation in South Korea
2 Altcoins Win Trial
Claimed Bitcoin Inventor Craig Wright Gets Shocked in Court! His Assets Are Frozen

Company

  • Vision
  • Mission
  • LitePaper
  • Whitepaper
  • Core Values
  • Branding
  • Teams
  • Career Listing
  • FAQ
  • Welfare Donations

Products

  • EDA Token
  • Blockchain Literature
  • EdaFace Dex
  • EdaFace Mall
  • Listing Platforms
  • Newsfeed
  • NFT Marketplace
  • P2P Market
  • Scam Verification Centre
  • School of Crypto

Legal

  • Term of Use
  • Privacy Policy
  • Disclaimer
  • Listing T&C
  • Listing Platforms
  • Eda Token Policy

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

EdaFace

About US

EdaFace is a user interface aggregator that brings all the various functionalities of the crypto industry onto a single platform! You can advertise, launch and crowdfund your crypto project via EdaFace Launchpad and Newsfeed.

Contact us: support@edaface.com

Follow us

Instagram Twitter Facebook Telegram Youtube Linkedin

Copyright © 2022 – 2024. EdaFace is a product of Emerging Digital Age (EDA) Pty Ltd. All Rights Reserved.

Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.
EdaFace
Welcome Back!

Sign in to your account

Lost your password?